Crypto currency

BMF

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I just added more BTC, up to 16+% of 1 BTC!!!
 

Gatormac2112

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Blockfi failed me today......when BTC hit $30k I tried to buy some only for Blockfi to fail. Over and over, I couldn't get a trade until it was around $40k again.
 

BMF

Bad Mother....
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Blockfi failed me today......when BTC hit $30k I tried to buy some only for Blockfi to fail. Over and over, I couldn't get a trade until it was around $40k again.

I had the same issue (I posted this earlier). I was on my work computer so I thought it was our security mechanisms blocking me. I was able to buy some tonight under $36k.
 

Gatormac2112

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I had the same issue (I posted this earlier). I was on my work computer so I thought it was our security mechanisms blocking me. I was able to buy some tonight under $36k.
Yeah, its just so damned frustrating to miss out on such a huge dip. I suspect there will be more, but still very irritating. I did manage to buy another percent of BTC which brings me up to .11156766 :proud:

I also have 1.6 ETH and 2 LTC and 260 XRP

Trying not to go too crazy with all this
 

UFHealthGator

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Blockfi failed me today......when BTC hit $30k I tried to buy some only for Blockfi to fail. Over and over, I couldn't get a trade until it was around $40k again.

Do yourself a favor and use binance.us for buying, then transfer to blockfi if you want to earn interest.

Binance.us has been a champ for me. All my limit buys executed including a buy for ADA at $1 immediately before it shot up to $1.8. Basically thats like buying bitcoin at 30k today.


Fees on binance.us are also negligible (0.1%, or 0.075% if you pay with bnb).
 

Gatormac2112

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Do yourself a favor and use binance.us for buying, then transfer to blockfi if you want to earn interest.

Binance.us has been a champ for me. All my limit buys executed including a buy for ADA at $1 immediately before it shot up to $1.8. Basically thats like buying bitcoin at 30k today.


Fees on binance.us are also negligible (0.1%, or 0.075% if you pay with bnb).
I will look into that for sure. I already have a Coinbase Pro account, but I was trying to avoid getting hit with fees on both purchase AND transfer by just buying within BlockFi. Big mistake.
 

UFHealthGator

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I will look into that for sure. I already have a Coinbase Pro account, but I was trying to avoid getting hit with fees on both purchase AND transfer by just buying within BlockFi. Big mistake.

Blockfi is good for just dollar cost averaging small amounts in a recurring purchase, while your USD makes 8.6% interest. If you want to make a big purchase on a dip, you need to do it on a spot exchange. Its also always a good idea to have some cash on an exchange to be ready for a massive dip, because ACH transfers stop working when there is a massive crash.
 

Gatormac2112

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Blockfi is good for just dollar cost averaging small amounts in a recurring purchase, while your USD makes 8.6% interest. If you want to make a big purchase on a dip, you need to do it on a spot exchange. Its also always a good idea to have some cash on an exchange to be ready for a massive dip, because ACH transfers stop working when there is a massive crash.
I’ve been DCA $20/day within BlockFi for BTC From GUSD, will continue to do that and start buying dips on an exchange like you recommend
 

no1g8r

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Do yourself a favor and use binance.us for buying, then transfer to blockfi if you want to earn interest.

Binance.us has been a champ for me. All my limit buys executed including a buy for ADA at $1 immediately before it shot up to $1.8. Basically thats like buying bitcoin at 30k today.


Fees on binance.us are also negligible (0.1%, or 0.075% if you pay with bnb).

I agree with the advice on Binance.us. I’ve been happy with ease of use and lack of hiccups in making deposits and purchases there.

Now I’m trying to figure out what cold wallet to get (Nano X?), what to move to the walker, and what to transfer elsewhere for savings/staking. Have any good resources that might help point me in the right direction?
 

UFHealthGator

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I agree with the advice on Binance.us. I’ve been happy with ease of use and lack of hiccups in making deposits and purchases there.

Now I’m trying to figure out what cold wallet to get (Nano X?), what to move to the walker, and what to transfer elsewhere for savings/staking. Have any good resources that might help point me in the right direction?

I have a Ledger Nano X. Great device. It supports a ton of cryptos. When dealing with cold wallets you need to really know what you are doing, and verify your addresses. If your keys are lost and the ledger is wiped, there is not coming back. You are your own bank, and no one to call if things get lost. I would always recommend doing a small test transfer to make sure you get the hang of things before transferring the bulk of your crypto.

As far as staking, the only thing I have staked is Cardano ADA. I can do it straight from my ledger and it earns about 5.5%APY of ADA. The best part about that is it never leaves my hardware wallet. That is basically like stuffing your mattress with cash, and it still earns interest.

Cardano Staking – DAN Teaches Crypto

 

no1g8r

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I have a Ledger Nano X. Great device. It supports a ton of cryptos. When dealing with cold wallets you need to really know what you are doing, and verify your addresses. If your keys are lost and the ledger is wiped, there is not coming back. You are your own bank, and no one to call if things get lost. I would always recommend doing a small test transfer to make sure you get the hang of things before transferring the bulk of your crypto.

As far as staking, the only thing I have staked is Cardano ADA. I can do it straight from my ledger and it earns about 5.5%APY of ADA. The best part about that is it never leaves my hardware wallet. That is basically like stuffing your mattress with cash, and it still earns interest.

Cardano Staking – DAN Teaches Crypto



Thanks. That helps a lot. It seems like the Nano X is a good way to go. I ‘ve got a handle on the why of staking, but not sure about the how, and which coins to go heavy on for staking.
 

Swamp Donkey

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Are you aware 1) how difficult it is to find a wallet and 2) open it up?
Yes and not very.

yes, and it does depend greatly on the type of wallet

Lots of experience in this. People think they are cute using mixers, but in reality those mixers are easily found. They crumble immediately when you explain to them how they violated the anti-money laundering laws of the United States. And they typically have pretty good records on the wallets that have done business with them.
 
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Swamp Donkey

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All crypto is tanking - saw an article saying China was going to "crack down" on BTC.
I think they did it in 2017 also.

then the Chinese party officials get 10% for the big guy a few times.... and all is forgotten.
 

no1g8r

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Every legitmate money service business must, including atms.

But if you are getting Bitcoin for heroin or fentanyl, maybe you are ok. Except that all bitcoin transactions are public. So, if they find your wallet, every transaction forever is visible.

They’re going to find my cold storage wallet?
 

Swamp Donkey

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They’re going to find my cold storage wallet?
Maybe.

But they will definitely see your transfer into your cold storage wallet.

It all depends on how bad they want to find you also.
 
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Swamp Donkey

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DarkSide, the hacking collective behind the Colonial Pipeline hack, has reportedly lost access to their own systems and lost nine months' worth of ransom payments totaling 90 million dollars

These guys thought their anonymous servers and anonymous wallets were safe too. Much of that was crypto btw. Not sure how much yet.
 

UFHealthGator

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They’re going to find my cold storage wallet?

Cold storage wallet does not make it anonymous. Everything is on the blockchain available for the public. Most exchanges KYC. And when you withdraw your crypto, they know to which wallet they sent it to. If the Exchange knows your wallet, then so does the government.

Really its harder to use BTC for illegal activity than it is to use plain old cash.
 

no1g8r

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Cold storage wallet does not make it anonymous. Everything is on the blockchain available for the public. Most exchanges KYC. And when you withdraw your crypto, they know to which wallet they sent it to. If the Exchange knows your wallet, then so does the government.

Really its harder to use BTC for illegal activity than it is to use plain old cash.

I’m not interested in illegal activity, just in making sure no one steals from me. It sounds like the only thief I need to worry about is Uncle Sam.
 

UFHealthGator

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I’m not interested in illegal activity, just in making sure no one steals from me. It sounds like the only thief I need to worry about is Uncle Sam.

You are correct. It is impossible to steal anything from your cold wallet as long as your seed phrases are safe. Not even the government can take it or freeze it unless they they get access to your seed phrases.

I mean people lose their seed phrases in a boating accident all the time. ;)
 

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